{"id":20580,"date":"2024-10-15T00:00:56","date_gmt":"2024-10-15T00:00:56","guid":{"rendered":"https:\/\/www.tamus.edu\/data-science\/?p=20580"},"modified":"2024-10-24T19:24:29","modified_gmt":"2024-10-24T19:24:29","slug":"the-importance-of-context-in-labor-market-data-and-analysis","status":"publish","type":"post","link":"https:\/\/www.tamus.edu\/data-science\/2024\/10\/15\/the-importance-of-context-in-labor-market-data-and-analysis\/","title":{"rendered":"The Importance of Context in Labor Market Data and Analysis"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

Our fourth post in this fall blog series on connecting jobs and academic programs in Texas builds on previous work that showed Texas is forecasted to have the highest number of jobs added to its economy by 2034<\/a> when compared to other states in America. Our last post focused on the <\/span>“General and Operations Managers Occupation” group, finding <\/span>a supply-and-demand gap of almost 10,000 <\/a><\/span>in Texas in 2023<\/a> where the<\/span> number of degrees awarded (<\/span>37,613<\/span> at the <\/span>bachelor’s level and above) was less than the number of annual job openings <\/span>(47,342)<\/span>. While our original analysis<\/a> showed that the “Management” occupation category is set to have the highest numeric growth for any occupation domains, the <\/span>“Computer and Mathematics Occupations” group is projected to have the highest percentage growth of 42%<\/b><\/span> in terms of jobs added from 2022 to 2034 across Texas. This post takes a closer look at the current supply-and-demand gap in this high-need occupational area in Texas to better understand potential challenges in the coming years. <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

Gaps between Jobs Created and Degrees Awarded<\/strong><\/span>: Computer and Mathematical Occupations<\/b><\/p>

In order to determine where gaps exist between jobs and degrees awarded, we are using the “CIP-to-SOC” crosswalk<\/a>\u00a0that connects academic programs (CIP codes) with occupations (SOC codes). See “A Quick Note About Methodology” below for more details<\/i>.\u00a0Using data from\u00a0<\/span>Lightcast<\/a><\/span><\/span>, a labor market analytics company,\u00a0<\/span>the “Computer and Mathematics Occupation” group is comprised of job titles that include software engineers, data engineers, data analysts, and data scientists. With the majority of these job titles requiring at least a bachelor’s degree, our analysis below will only include degrees awarded at the bachelors level or higher.<\/span><\/p>